45.

PART IV: Answer the following questions. Show all work for full credit. 45. While sunning yourself on the bleachers at your friend's track meet, you overhear an acquaintance -- who is a director of an oil and gas company -- describe to his wife a recent business trip, including details relating to a possible disposition or liquidation of the company, or some of its assets. Among other things, your acquaintance mentioned to his wife that there were several bidders, and that an announcement might occur the following week. You are considering whether to call your broker to buy stock in the company, and whether to relay the information to close friends. Fully describe what action you should take and why [6 points)